Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 7th November 2024

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

See the black market Dollar to Naira exchange rate for 6th November, below. You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1725 and sell at N1730 on Wednesday 6th November 2024, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira CBN Rate Today

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Petrol Price: Preposterous, Fallacious – Again, Oil Marketers Knock Dangote

The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has disputed a recent claim by Dangote Refinery, which suggested that oil importers offering petrol at prices lower than those from the refinery are bringing in substandard fuel and collaborating with international traders to flood Nigeria with low-quality products.

Naija News reports that Dangote Refinery made this assertion on Sunday, sparking a response from DAPPMAN.

In a statement issued on Monday, DAPPMAN’s Executive Secretary, Olufemi Adewole, emphasized that its members operate responsibly, rejecting any allegations of compromising fuel quality for profit.

“The marketers in the downstream sector are patriotic Nigerians committed to serving the nation and would not stoop to defrauding citizens. Our members are here to provide value to Nigerians, not to exploit them,” he said.

Adewole explained that international market prices for petroleum products fluctuate based on market forces, and DAPPMAN’s members calculate landing costs accordingly, with templates publicly available.

“Prices of products in the international market are dynamic as they’re dictated by prevailing circumstances at every given situation. We calculate our landing costs based on the dynamics of market forces, and the templates are always in the public domain. To claim that if the landing cost of imported product happens to be lower than that of the refinery indicates importation of low quality product is not only preposterous, but also fallacious. In any case, the management of the refinery has, until now, kept its cost and prices close to its chest and put it away from public scrutiny,” Adewole stated.